Wolfe Research started coverage on shares of Flowserve Corporation (NYSE:FLS) in a research note published on Tuesday. The brokerage issued an underperform rating and a $38.00 price objective on the industrial products company’s stock.

Several other research firms have also recently issued reports on FLS. Stifel Nicolaus reiterated a buy rating and issued a $55.00 target price (up from $53.00) on shares of Flowserve Corporation in a research note on Wednesday, May 3rd. BidaskClub upgraded shares of Flowserve Corporation from a sell rating to a hold rating in a research note on Thursday, July 6th. Zacks Investment Research cut shares of Flowserve Corporation from a hold rating to a sell rating in a research note on Monday, July 10th. BMO Capital Markets increased their target price on shares of Flowserve Corporation from $53.00 to $56.00 and gave the stock an outperform rating in a research note on Thursday, May 4th. Finally, Robert W. Baird upgraded shares of Flowserve Corporation from an underperform rating to a neutral rating and set a $43.00 target price on the stock in a research note on Wednesday, March 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Flowserve Corporation has an average rating of Hold and an average target price of $50.10.

Flowserve Corporation (NYSE:FLS) opened at 46.17 on Tuesday. The company has a market capitalization of $6.03 billion, a PE ratio of 49.65 and a beta of 1.48. Flowserve Corporation has a 52 week low of $39.13 and a 52 week high of $52.10. The company has a 50-day moving average of $47.61 and a 200-day moving average of $48.43.

Flowserve Corporation (NYSE:FLS) last posted its earnings results on Monday, May 1st. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Flowserve Corporation had a net margin of 3.12% and a return on equity of 15.76%. The business had revenue of $863.63 million for the quarter, compared to analysts’ expectations of $817.56 million. During the same period in the prior year, the company posted $0.39 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, equities research analysts anticipate that Flowserve Corporation will post $1.78 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Friday, June 23rd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Wednesday, June 21st. Flowserve Corporation’s dividend payout ratio (DPR) is currently 81.72%.

Hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in Flowserve Corporation during the fourth quarter valued at $53,541,000. UBS Asset Management Americas Inc. boosted its stake in Flowserve Corporation by 1.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 330,979 shares of the industrial products company’s stock valued at $15,906,000 after buying an additional 3,736 shares during the period. World Asset Management Inc boosted its stake in Flowserve Corporation by 15.6% in the first quarter. World Asset Management Inc now owns 14,777 shares of the industrial products company’s stock valued at $716,000 after buying an additional 1,989 shares during the period. Great Lakes Advisors LLC boosted its stake in Flowserve Corporation by 62.6% in the first quarter. Great Lakes Advisors LLC now owns 132,719 shares of the industrial products company’s stock valued at $6,426,000 after buying an additional 51,097 shares during the period. Finally, Westfield Capital Management Co. LP boosted its stake in Flowserve Corporation by 90.6% in the first quarter. Westfield Capital Management Co. LP now owns 658,358 shares of the industrial products company’s stock valued at $31,878,000 after buying an additional 312,993 shares during the period.

About Flowserve Corporation

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analyst Recommendations for Flowserve Corporation (NYSE:FLS)

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